Gilat Reports Strong Second Quarter 2022 Results

Revenue of $55.5 million, operating profit $1.5 million and Adjusted EBITDA of $5.3 million; Reiterates 2022 guidance

Petah Tikva, Israel – August 9, 2022 – Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, today reported its results for the second quarter ended June 30, 2022.

Second Quarter 2022 Financial Highlights

• Revenues of $55.5 million, up 1.2% compared with Q2 of last year;
• GAAP operating income of $1.5 million versus operating loss of $0.4 million in Q2 last year;
• Non-GAAP operating income of $2.4 million versus Non-GAAP operating income of $0.1 million in Q2 last year;
• GAAP net income of $0.5 million versus loss of $0.2 million in Q2 last year;
• Non-GAAP net income of $1.4 million versus Non-GAAP income of $0.3 million in Q2 last year;
• Adjusted EBITDA of $5.3 million versus Adjusted EBITDA of $2.4 million in Q2 last year;
• Reiterates and on-track with 2022 financial guidance;

Internet Para Todos Expands Services Contract with Gilat

Petah Tikva, Israel, August 4, 2022 — Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today that Internet para Todos (IPT) in Peru is expanding its contract with Gilat, for 4G cellular backhaul services over the Internet.

IPT is a global collaborative between Telefónica, Meta (formerly Facebook), IDB Invest, and CAF. The initiative is bridging the digital divide in Latin America and providing internet connectivity to remote regions of Peru.

Gilat Signs Agreement to Enable a Central Asian Government to Provide Digital Services over Satellite

Petah Tikva, Israel, August 2, 2022 — Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today the Company signed an agreement to provide a SkyEdge II-c hub and hundreds of VSATs to a government in Central Asia.

The Gilat equipment will be used to connect rural villages to the government network, serve as a backup communication channel for disaster preparedness, and provide remote services to citizens.

Gilat and Intelsat Expand Their Strategic In-Flight Connectivity Partnership in Japan

Petah Tikva, Israel, July 25, 2022 — Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today that the Company is further expanding its strategic in-flight connectivity (IFC) partnership in Japan with Intelsat.

Intelsat is augmenting its commercial and business aviation services in Japan to support even higher levels of IFC reliability for air travelers by expanding the network with two additional SkyEdge II-c hubs.